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By Ben Derwent 15 Nov, 2023
Derwent’s latest Pathway to the Boardroom event was hosted in Perth by our Managing Director Ben Derwent . The event shared valuable insights to a crowd of aspiring Non-Executive Directors to help them take their first steps towards building a fulfilling career in the boardroom. Board roles are a fantastic way of contributing expertise in different settings, and can provide opportunities to further your skillset, gain visibility across multiple business functions, extend your professional network, and to learn the dynamics of boardroom decision making. Taking the first step can be difficult, and there are often different pathways to take. On this journey, it is important to assess what type of directorship is best suited to you and your skillset. “What will complement your executive career?” and “what board setting is most appropriate?” are important questions to reflect on. There were three key themes shared for those looking to secure a board position: #1 Considering your ‘Value Add’ proposition, and how to articulate it This applies to both an executive and board career. Your value proposition as an executive includes your industry experience, functional skills, as well as strategic capabilities. In transitioning your value proposition towards being a director, this extends to how you work with a board and c-suite, your ability to contribute to strategy development, critical thinking, risk and governance, and leadership experience. The ability to articulate these elements and how they would benefit a board are key. #2 Defining your personal brand and engaging the right networks You need to clearly articulate and frame your personal brand presence (i.e. what you outwardly represent and are known for). Being proactive in engaging the right networks is the best avenue to ensure that you’re considered for board roles. Engaging search firms is also a great step, but your first board placement will likely come from your own personal networks. Building your network in both professional and social environments can help to expand your reach and opportunities. #3 The importance of due diligence Taking the time to ensure that you have done your due diligence when considering board opportunities is crucial. A company may choose you, but it is equally important that you are also choosing them. Be sure to make both skillset (company strategy, risks, industry, etc.) and mindset (the people, culture, values, alignment) checks. Derwent is delighted to continue to support the next generation of Board talent across both our events programs and directly through our expert team of Executive Search and Board specialists.
By Warwick Bowd 15 Nov, 2023
Derwent , in partnership with Lighthouse Group , were proud to host a panel event this week which focused on how Business Services (Corporate Function) leaders can be better business partners in professional services firms. The session was facilitated by Warwick Bowd who leads Derwent’s Professional Services executive search practice. Our panel of experts included Peter Nankervis , CEO of leadership and transformation consultancy Lighthouse Group, and Brad McBean , currently a Partner with ESG Partners and formerly Global MD Advisory for Aurecon and a Partner with PwC/Strategy&. Insights were shared around the challenges and opportunities of being a leader and trusted advisor when you’re not necessarily client-facing or an owner of the firm. According to the panel, in a climate of economic headwinds, increasing competition, rapid innovation and a war for talent, the bar has been raised for Business Services leaders who now need to focus on the following in order to retain their rightful seat at the table: Understanding that competitive advantage in professional services stems from having superior IP and expertise, being able to build rock-solid client relationships, and hiring and retaining stand-out people. Business Services leaders and their teams must therefore help to build capability in one or more of these three areas. Being effective communicators and managing multiple stakeholders, both across the partnership and across the various Business Services functions. Being aligned to the firm’s strategy and also aligned as separate but connected corporate functions is critical to success. Being strategic and deliberate in your planning, but also recognising that effective execution is usually the key determinant of success. “Strategy can be overrated,” so focus on executing a manageable number of well-thought through projects, so as to avoid initiative overload.
By Eliza Alford 30 Oct, 2023
Derwent had the pleasure of hosting an informative panel discussion this week attended by HR leaders to discuss their role in company ESG initiatives and the rise of the Chief Sustainability Officer. HR leaders are increasingly expected to play a central role in company ESG initiatives and understanding the core concepts and how to embed them within talent processes is key. Topics discussed included how to embed ESG initiatives and bring the company on the journey as well as steps you can take to upskill yourself and become a better advisor to Boards and CEOs on ESG matters. Thank you to our expert panel: Sandra McInnes , Chief Sustainability Officer at Pilbara Minerals. Sandra was also former VP Corporate Affairs at Woodside and has a background in HR having held numerous senior roles at Woodside. Megan McCracken , Non-Executive Director at Pacific Energy, Chair of Freight and Logistics Council of WA and is a Leadership Coach. Megan is an experienced Non-Executive Director and Chair who has an extensive background in HR, Sustainability and Corporate Affairs. Previously Megan was EGM People, Safety, Corporate Affairs at Arc Infrastructure and was the Chair of NAWO (National Association of Women in Operations). Sandra and Megan were generous with their time and provided valuable insights and experiences from their career journey. Key takeaway : Talent in this space is growing and will continue to become highly sought after. Hosted by our Perth office, Eliza Alford, Principal HR & Legal & Mike O’Sullivan, Managing Partner
By Michelle Gardiner 07 Jun, 2023
The path to a board career is different for each person, as illustrated by our speakers Peter and Adelle. Adelle’s pathway was not a planned process with Adelle’s initial Non-executive Board roles arising from several interim roles undertaken after her full-time executive career. In contrast, Peter took a deliberate path of initially adding a NFP Board appointment and subsequently adding Board roles at a range of industries that appealed to him. What Advice would you give to people beginning on a pathway to a Board career? Be aware of your values, strengths, and industries that you are drawn to. The business must interest you and the culture should align with your values. An AICD qualification is not enough on its own, demonstrating that you meet a skills gap within the Board’s skills matrix is more important. Identify skills beyond the surface level, especially those in short supply in the market. Consider a NED role in parallel with an executive role to get exposure to a Board. Use your first Board role to learn what it takes to be a good Board member. Be conscious in your first Board role to remove yourself from day-to-day management, focus less on aggressive challenging of management and offer more supportive questioning. Understand that a Chair role will require a greater time investment, as will any Chair of Board committees. What are key skills required by Boards in the current environment? Consider a range of industries and settings: get exposed to a variety of Boards as the learnings from one Board are relevant across other Boards. External factors such as workforce, cyber, supply chain and ESG impact most companies. The private space will have a key focus on company performance and strategy. Listed companies will have a wide range of stakeholders to focus on beyond the business performance. The life stage of an organisation: often companies that are growing and are open to change allow you to make the greatest impact. Consideration of NFP Boards: ensure you are passionate about the cause and that you are comfortable with the governance and structure in place. What type of Due Diligence do you recommend before joining a Board? Due diligence is important before joining a Board to ensure you are certain and comfortable to support that Board for a period - resigning from a Board has broader implications. Ensure that you have respect for the Chair as they will drive the Board agenda and will be an important mentor. Understand the culture of the organisation, if possible, spend face to face time with the executives. Is it culture that encourages performance and diversity of thought? Consider the other Directors and major stakeholders as well as reviewing Financial Statements. Google the reputation of the organisation - do you feel comfortable with the values? Asking whether this is a business you would invest in is a useful yardstick given you will invest time.
26 May, 2023
Navigating Change: How CFOs can effectively drive transformation whilst delivering maximum impact. Derwent were proud to host an informative panel event this week, which focused on effective CFO leadership. Our panel of experts included: Adele Stratton, Chief Financial Officer, Iluka Resources Donna Carrington, Chief Financial Officer, HBF Health CFOs are increasingly required to drive transformation within organisations. Finance leaders must now go beyond the numbers and effectively drive organisation-wide change that improves future company performance. The CFO Leadership Series provided valuable insights in delivering high impact and being an effective catalyst for change. The esteemed panel shared observations and learnings on this topic, along with the CFO role in all its breadth, including its critical involvement in ESG strategy. Thank you to our wonderful guest speakers Adele Stratton (CFO Iluka Resources) and Donna Carrington (CFO HBF) who shared valuable insights on a wide variety of topics which included stepping out of your profession comfort zone and taking on new areas of responsibility, the importance of succession planning, effective business partnering with the CEO and the CFOs role in leading the sustainability charge.
18 Nov, 2022
Derwent is delighted to have hosted three in person ‘Pathway to the Boardroom’ forums in Sydney, Melbourne and Perth. Over 200 attendees welcomed the opportunity to network with other aspiring Non Executive Directors and hear candid first hand insights from our guest speakers, these included Nicki Anderson, Stephen Health, Sandra Dodds, Bruce Rosengarten, Sharon Warburton and Jim Walker. Key takeaways included: Transition to a Board career is a journey . Early on in a Board career it can be worthwhile taking on the Board roles that are seen as ‘risky’ by others, as this can give you a strong profile and launch a Board career. If possible, transition to a Board career slowly as this allows retention of an executive income. Consider taking on some consultancy or advisory work alongside your board roles. It is possible to have an Executive career alongside a Non Executive Director role, however you will need the support of the Chair of your day job. An advantage of doing it this way is it provides a different perspective and gives you the opportunity to work alongside a different Chair. It is important to define and clearly articulate your value proposition and brand . Networking and the use of Linkedin is crucial – show people that you are available for a Board role. Consider the time commitment carefully. It is not always a part time or predictable role. Ongoing learning and professional development is very important. Directors need to be constantly curious and scan both the domestic and international community. Due Diligence is imperative: Cultural fit is very important alongside respect for the Chair as leader of the culture. Low ego and authenticity are important traits Meet with the other Directors (read the body language) and identify if there is anyone in your network that has worked for the company Financial due diligence should include a check on the cashflow situation and a conversation with the Auditors Does the culture match the systems and processes, look out for consistent behaviours, read the media and be open to getting external help, e.g., what is behind the financials Be mindful that there is no perfect company, all businesses have challenges, which adds interest Understand the Chair, who they are, their style and values Onboarding : Have one-on-one meetings with the executive. Get out and visit the business. Learn the history and ask why certain decision were made. Go back to the Chair and CEO if you need more in your induction plan. Private and Family led Boards are very different to listed Boards, with a heightened focus on solving problems to keep the business moving (as it is their business at stake), less access to big data and the need to have patience over some issues as it takes time for the Founders to feel comfortable in making significant changes. When on a Board, you have far less power than when you are an Executive. This translates to understanding the importance of asking open rather than direct questions. Diversity on Boards should be viewed with a broad lens, it is imperative to have the right skills and capabilities but often these can be acquired through genuine diverse representation, as long as the focus remains on delivering the right outcome for stakeholders. Gender is just one piece of diversity, there are many other aspects to diversity of experience and perspective. ESG conversations at the Board level are about bringing together all the ESG corporate wide pockets of activity.
04 Nov, 2022
Last week, the Derwent team gathered in Sydney to proudly celebrate 25 years of Derwent. Our more than 90 colleagues from across Australia reflected on our achievements to date, and more importantly, looked favourably to a bright future. As a team, we collaborated on how to be smarter and stronger together. At Derwent we are navigators of possibility, constantly seeking out the new and the different. Derwent has many distinguishing features, including its outstanding team and expansive track record, which has positioned the firm as the challenger brand in Australian Executive and Board search. Few firms endure through the years. To our many clients, extended network and friends of the firm, we thank you for your support over the last 25 years. I would also like to acknowledge the many talented members of the past and current team at Derwent, for creating success and delivering impact with people. We have assisted many stakeholders in our ecosystem deliver on their promise, benefiting a diverse range of organisations and the community. Thank you, Ben Derwent
17 Oct, 2022
The Derwent Board practice hosted another successful roundtable event with guest speakers Dr Juliet Bourke and Christine Holman discussing the recent research project by the 30% Club Australia and Deloitte Australia, please click HERE to view the report. Boards will need to meet a multitude of challenges and opportunities arising from an increasingly complex environment – this is demonstrated by the recent pandemic, geo political issues and a range of economic shocks. The pace of change is accelerating, so now is the time to be BOLD: Some key takeaways were: As per the Telstra case study, diversity should be viewed with a broad lens. Boards should consider broadening the brief and adding new skills and capabilities to the Board from non-traditional areas for example People and Culture; “culture eats strategy for breakfast”. More time and attention should be spent on understanding and acquiring the skills and capabilities required around the Boardroom table. An opportune time for Board re-evaluation could be after adoption of new strategy. Executive search firms should present a more diverse pool of candidates for consideration in Board succession processes. Boards could consider being less rigid around Board tenure to align Board talent to the needs of the future. The role of the Chair is critical in providing proactive and supportive leadership during this transition period. Bold leadership in advocating for diversity of thought is key to navigating change. As commented by Bridget Loudon, “The more conservative your board is and stays, the more conservative your ambitions. I am worried that Australia does fall behind and we’re not as courageous as organisations as we could be.”
By Peter Gearin - 'The Mandarin' 30 May, 2022
Job seekers have a golden opportunity in 2022 to land a role that matches their professional skills and personal values. For this, they can thank low unemployment rates and a global skills shortage. Surveys also suggest the pandemic experience is driving many people to seek positions where they can truly "make a difference". What does this mean for the public sector? Can it attract more of Australia’s best and brightest looking for a greater sense of purpose? Can it compete with the private...
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